New Mountain Finance (NASDAQ:NMFC) Announces Earnings Results

New Mountain Finance (NASDAQ:NMFC) posted its quarterly earnings results on Wednesday. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01), Zacks reports. New Mountain Finance had a return on equity of 11.25% and a net margin of 30.28%.

New Mountain Finance Stock Down 1.8 %

NASDAQ:NMFC traded down $0.21 during midday trading on Wednesday, hitting $11.75. 421,564 shares of the company were exchanged, compared to its average volume of 347,861. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $1.27 billion, a PE ratio of 11.19 and a beta of 1.15. New Mountain Finance has a fifty-two week low of $10.61 and a fifty-two week high of $13.01. The company has a fifty day simple moving average of $11.45 and a 200 day simple moving average of $11.68.

Insider Transactions at New Mountain Finance

In other news, Director Steven B. Klinsky acquired 6,200 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $11.75 per share, with a total value of $72,850.00. Following the completion of the transaction, the director now directly owns 4,122,655 shares in the company, valued at approximately $48,441,196.25. This represents a 0.15 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have bought a total of 95,104 shares of company stock worth $1,083,334 over the last ninety days. 10.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Wells Fargo & Company lowered their target price on New Mountain Finance from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th.

New Mountain Finance Company Profile

New Mountain Finance Corporation (Nasdaq: NMFC), a business development company is a private equity / buyouts and loan fund specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies. It also makes investments in debt securities at all levels of the capital structure including first and second lien debt, unsecured notes, and mezzanine securities.